AUD/USD – 30M – BUYCorrection of the major bearish trend halted around the Fibonacci 0.24-Level.Continuation of the current descending trend is certain. Target of the current trend is 0.63488 at the Fibonacci level 0-Level. Caution: A possible trend reversal in the direction of the support level at 0.64350 is also possible.
In the case of a trade, always set appropriate stop-loss settings.
Additionally a ‘Shooting Star’ candlestick chart pattern is detected. The candles show ‘Shooting Star’. which is a negative signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Shooting Star’ going down is 59% (Bull Market) & 60% (Bear Market).
Additionally a ‘Support Level’ indicator signal is existing. The indicator shows ‘Support Level’. this is usually a bearish signal. The currency pair is likely to fall.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 0.64389 |
| Next High | 0.64350 |
| Current Price | 0.63629 |
| Next Low | 0.63518 |
| 2nd Low | 0.63488 |
| 3rd Low | 0.63330 |
0.64350 – 0.64247 – 0.64050 – 0.63518 – 0.63488 – 0.64009
Trading Signals: FOREX – AUD – AUD/USD – USD – Shooting Star